Increased Cost of Compliance

The Basics

(Last updated July 25, 2006)

What is eligible for ICC money?

Structures: substantially damaged (greater than 50%)

by a flood or considered a repetitive loss and in the 100-year floodplain (the Special

Flood Hazard Area) and below the current Base Flood

Elevation (BFE) or higher local standard and covered by a standard flood insurance

policy

What is not eligible?

Structures already above the current BFE or in the X Zone, unless the community adopts a higher standard such as the ABFE

Structures covered by a Group Flood Insurance Policy, has condominium unit coverage, or has a policy issued or renewed in a parish or community that is part of the Emergency Program

Caution

Small Business Administration loans and Community Development Block Grants require using Advisory Base Flood Elevations

How much money can I get?

Maximum of $30,000 Based on a proof of loss, a detailed

elevation cost estimate/contract, and a substantial damage declaration from the community

ICC relationship to your flood policy

Maximum you can collect for a single-family dwelling is $250,000 including an ICC claim payment

$500,000 for a non-residential structure

What can I use the money for?

Meeting local floodplain ordinance requirements for rebuilding and repairing in ways that reduce future flood damage

What are my options?

Flood proof (non residential structures) Relocate Elevate Demolish

How do I make a claim?

Contact your insurance company/agent/adjuster

Are there deadlines?

Four years from the date of the substantial damage declaration or repetitive loss declaration

I qualify for ICC. But it is not enough to elevate, relocate, demolish or flood proof my home/business. Can I get money from another program to make up the difference?

Hazard Mitigation Grants Program (www.fema.gov/fima/hgmp)

Flood Mitigation Assistance (www.fema.gov/fima/fma)

Your community official must apply on your behalf

For additional information

Contact: The Floodplain Administrator in each

parish or community Your insurance agent NFIP at 1-800-427-4661 Visit the FEMA Web site at

www.fema.gov/business/nfip